DUBAI, United Arab Emirates, May 09, 2022 (GLOBE NEWSWIRE) -- The global dental tourism market is expected to reach a valuation of US$ 6.7 Bn in 2022, with sales growing at a 13.6% CAGR over the forecast period. Rapid adoption of technologically advanced medical equipment in emerging economies will steer the growth in the market, with the market size reaching US$ 24.3 Bn by 2032.
Increasing costs of healthcare and dental services in developed nations is compelling consumers to adopt dental tourism. This trend is propelled by the lack of insurance coverage for major elective dental surgical procedures in various countries.
Moreover, the cost of treatment in countries such as India, Thailand and China is relatively lower than the countries in North America and Europe. This is reflecting a surge in dental tourism cases from Europe and North America into the developing economies. The process of obtaining a medical visa for such procedures is relatively quicker and easier, thus promoting the flow of patients into foreign countries for treatment.
Promotional strategies such as the launch of online campaigns displaying cost-effective services provided by health institutions are contributing to the growth in the market. Delivery of undivided attention in terms of care, as well as provision of affordable accommodation beckons the consumer’s interest for taking up on attractive medical tourism packages, identifying treatment options as well as recreational choices.
With growing lifestyle related diseases and unhealthy dietary intake, the incidence of dental disorders is on the rise. High prevalence of diseases such as dental caries has led to a spike in dental restoration procedures. Thus, increasing burden of dental abnormalities is propelling the interest in cosmetic dentistry, thereby creating opportunities for growth in the market.
“Rising adoption of technologically advanced medical equipment in emerging economies, along with increasing government0backed investments in the development of the healthcare infrastructure in these countries is expected to drive the market in the forthcoming years,” says an FMI analyst.
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Key Takeaways:
- Based on services, sales in the dental cosmetics segment will increase at a robust 18.1% CAGR through 2032.
- In terms of providers, the hospital chains segment is projected to account for 47.2% of the total market share in 2022.
- India will emerge as a lucrative pocket, accounting for 53.9% of the South Asia dental tourism market share in 2022.
- What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
- What are some of the branding opportunities that are emerging at a rapid pace?
- What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
- Why some competitive strategies are popular than others among leaders in a certain market?
- What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
Competition Landscape
With advancements in cosmetic dentistry, market players are aiming to offer these services at affordable prices to gain a competitive edge. They are also investing in mergers, acquisitions, and collaborations to expand their global presence. Other strategies include product and service promotions on social media and online channels, as well as collaborations with hospital chains.
Key Market Segments Covered In Dental Tourism Industry Research
By Services:
- Dental Implants
- Periodontics
- Endodontics
- Dental Prosthetics
- Orthodontics
- Pedodontics
- Oral Surgery
- Dental Cosmetics
- Dental Consultation
By Travellers:
- Incidental Travellers
- Business Travellers
By Providers:
- Hospital Chains
- Multi-Specialty Clinics
- Independent Clinics
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
4. Global Dental Tourism Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Spending (US$ Bn) Analysis, 2017-2021
4.2. Current and Future Spending (US$ Bn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Dental Tourism Market Analysis 2017-2021 and Forecast 2022-2032, By Services
5.1. Introduction / Key Findings
5.2. Historical Spending (US$ Bn) Analysis By Services, 2017-2021
5.3. Current and Future Spending (US$ Bn) Analysis and Forecast By Services, 2022-2032
TOC Continue…
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